Eni and Korea Gas Bolster Ties

Eni CEO Claudio Descalzi and Korea Gas Corp. President and CEO Hee-bong Chae on Thursday signed a memorandum of understanding (MoU) that aims to strengthen the firms’ cooperation in the energy sector, Eni reported.

In a written statement emailed to Rigzone, Eni noted the MoU calls on the companies to identify specific opportunities to collaborate in areas such as exploration and production (E&P), liquefied natural gas, downstream, infrastructure and “circular economy” and low-carbon energy projects.

“As Eni wants to play a decisive role in the process of energy transition towards a low-carbon future, this collaboration is in line with the direction we want to follow to ensure sustainable growth,” remarked Eni CEO Claudio Descalzi. “This MoU fits our culture based on integration, efficiency and a constant focus on technological innovation and research, which has allowed Eni to enhance the assets in a different way.”

For the past decade, Eni and Korea Gas have teamed up in the E&P business in Africa, the Middle East, Southeast Asia and the Mediterranean, Eni stated. According to Eni, the Mozambique Area 4 and Iraq Zubair projects represent examples of successful collaborations with Korea Gas.

“By signing this MoU with Eni, we shared the strong willingness of both companies to lead the era of low-carbon and eco-friendly energy,” commented Chae. “Our strong relationship can settle the basis for a new business with the aim of the second Mozambique Area 4 and Iraq Zubair project, which represents the new energy era.”

To contact the author, email mveazey@rigzone.com.